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The Views Of Capitalism In Stephanie Flanders's Masters Of Money

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This documentary “Masters of Money” mainly emphasizes on Karl Marx’s theory which was on capitalism. He stated that capitalism would lead to a global economic crisis. He believed that the society was divided into two classes: the owner class and the worker class. The owner class , in order to ensure that higher levels of profit is made , exploits the worker class since an industrial reserve army of unemployed is present. However, the business gets itself into trouble because the workers who are paid badly are unable to spend on the consumer products which gradually force the business to cease trade and thus causing a crisis. On the other hand, if the labor costs are high and the owners decide to pay higher wages due to the lower availability…show more content…
This, however, leads to a rise in the level of unemployment in the society which causes a significant fall in the workers’ wages and therefore the businessmen can start exploiting the workers again. Marx justified that capitalism to be unfair. Marx was also an additionally an incredible admirer of capitalism. Among the documentary's numerous astonishing disclosures, Stephanie Flanders demonstrates how The Communist Manifesto contains paeans of applause to capitalism and all it has accomplished. Marx opposed requires a prompt outfitted transformation of the specialists. Rather he accepted that just when we had got all that we could out of capitalism might we be able to bear the cost of the revolution.

According to me, capitalism is significantly important for the economic development and growth of a country as the modern economies are complex. Due to capitalism, the entrepreneurs are determined to work more effectively and efficiently so that they can ensure to earn a higher level of profit. They tend to be more innovative and competitive or else they would end up losing their customers and market share to their rivals. This benefits the customers to enjoy a range of quality
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After independence, people starved due to the lack of jobs. From there, Bangladesh has came a long way today because approximately a large number of the people in our country have access to two times meals a day , electricity, water, free primary education, public health centres and can afford mobile phone services, where after independence even the educated people like engineers could not even afford to eat rice and therefore shifted to bread . Capitalism has ensured the economic prosperity in Bangladesh. Ready-made garments is an example of capitalism in our country . It has immensely contributed in increasing the gross domestic product of Bangladesh which has helped people to enjoy a better standard of living as a huge number of jobs are created which has helped to decrease the level of poverty in the Bangladesh . The conflicts do occur between the workers and the owners but due to the strong trade unions these can be resolved too . Thus, I consider capitalism to be a blessing rather than the root of crisis according to Karl